facebook

Start Online Trading with Mcx Market Tips

Market Outlook

MCX Gold price showed strong bearish movement on Tuesday and broke its major support level of 32300. For next trading session if price sustains below 32000 then we will continue to suggest downward trend towards next support of 31700 and if price push for recovery from lower levels then it may test major resistance of 32300. MCX Crude oil also showed down side movement and it has immediate support at 3900 and upward side it has important resistance of 4050, for next session it may continue with bearish bias. MCX Copper took correction from higher levels and settle down near its immediate support of 455 and below this level this negative momentum can find next support of 450 in next session.

Fundamental News

Prices of Gold were steady on Tuesday, trading near five-week lows touched in the previous session, as a firmer dollar and optimism over a likely U.S.-China trade deal dented safe-haven appeal of the precious metal.Prices of Crude oil fell towards $65 a barrel on Tuesday, pressured by the restart of Libya’s biggest oilfield and on expectations for an increase in U.S. crude inventories.

GOLD

Gold showed sideways to bearish movement and found the major support level of 32050. Now if price sustains on lower level then it will test next support level of 31900. On other side 32430 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37800. Now if price sustains on lower level then it will test next support level of 37400. On other side 38150 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4044. Now if price sustains on higher level then it will test next resistance level of 4150. On other side 3966 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 462.65. Now if price sustains on higher level then it will test next resistance level of 467. On other side 459 will be major support level.

(Click to submit your details) Just one step to get best trading tips and Recommendation

Leave a Reply